2020 update

Aubry, Jean-Pierre, Alicia Haydock Munnell, and Kevin Wandrei. “2020 update”. State and Local Plans Issue in Brief, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, May 2020. http://hdl.handle.net/2345/bc-ir:108910.
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Abstract

The update's key findings are: If markets remain at their current levels through June, state and local pension plans will end FY 2020 with negative investment returns and reduced asset values. As a result, their aggregate funded ratio will slip below 70 percent, and they will face higher actuarial costs going forward. While this outcome is a step backwards in plans' funding progress, most plans will have enough to pay benefits indefinitely. Some of the worst-funded plans, though, do face an increased risk of exhausting their assets, and the cost of covering benefits on a pay-go basis would be very high.

Title
2020 update: Market decline worsens the outlook for public plans
Author
Aubry, Jean-Pierre
Munnell, Alicia Haydock
Wandrei, Kevin
School
Carroll School of Management
Discipline
Finance
Center
Center for Retirement Research
Genre
report
Date Issued
May 2020
Publisher
Center for Retirement Research at Boston College
Series Title
State and Local Plans Issue in Brief
Persistent Link
http://hdl.handle.net/2345/bc-ir:108910
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
State and Local Pensions

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